South Africans march against their President
Wednesday, December 16, 2015
The latest protests are a reaction to him sacking two finance ministers last week, further damaging confidence in the economy.
This comes on top of claims of widespread corruption, recent student protests and a succession battle in the governing African National Congress.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...